February 20, 2009 Peter

Have Money Talks Before Marriage

Guest post by Jim who writes about personal finance at Bargaineering.com. Please visit this great resource.


Marriage is a wonderful thing. It’s wonderful to see two people come together and declare to the world that they have found their partner in life. It’s also a very difficult thing. It’s difficult because it forces two people to live as one, to not only enjoy life together but to deal with its trials together. It also requires a tremendous amount of trust and no truer is that statement than when you start talking about finances. It’s important for the happy couple to sit down and discuss how they’ll approach the topic of money before they make their vows.

Sit Down & Discuss

There are plenty of articles about what couples should talk about before they get married. The important point isn’t what they talk about but that they talk about it. Open communication will be key in your married life so it’s important to recognize that talking openly is just as important as what is being discussed.

Here are some topics to get you started:

  • The mechanics: What bills you have, how they are paid, who will be responsible for paying them. Discuss how you’ll treat your finances (joint accounts or separate or both?) and how you’ll be budgeting to ensure you don’t fall into debt.
  • Insurances: What insurance policies do you have, what are the coverage details, what insurances do you need?
  • Investments: Talk about your investments, what brokerages, what your plan is.
  • Family: How many kids, how soon, how you’ll plan to save towards supporting them, whether you’ll pay for college and how you’ll do that (if you do).
  • Goals: What other goals do you have that you haven’t talked about? How will you fund those pursuits?

Those topics are all just starters. Once you sit down and start talking, you’ll think of more questions you two want to discuss and write down for the future. Let those be a jumping off point for you to start the conversation and you’ll take it places I can’t even predict. Remember, the key is to talk.

What are your Thoughts?

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